701.0506 Overdue distribution. (1) In this section, 'mandatory distribution' means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. 'Mandatory distribution' does not include a distribution subject to the exercise of the trustee’s discretion even if any of the following applies:(a) The discretion is expressed in the form of a standard of distribution.(b) The terms of the trust authorizing a distribution couple language of discretion with language of direction.(2) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.History: 2013 a. 92.
Wisconsin Legal Code